Ameya group in marketing pact with Norit

In a bid to further strengthen its position, Vadodara-based Ameya Group has tied up with Netherlands-headquartered Norit, a global supplier of purification solutions, to market its products in India.

As part of the alliance, Ameya, which is one of the leading industrial speciality materials manufacturers, will market activated carbon, used in gas and gold purification, metal extraction, water purification, medicine and sewage treatment, in northern and western India.

The companies recently entered into an MoU to market activated carbon in Indian markets. The MoU was signed by Norit India country head Sudeep Sangameshwaran and Ameya Group CEO Bharat Bafna at Chennai.

"Ameya will import the products from overseas and sell them in the domestic market, which will help the company increase its revenues," said Manoj Pillai, business development manager, Ameya Dyechem Pvt Ltd.

Norit has its production, engineering and manufacturing facilities in seven countries. It serves a client base spread across 150 countries. The company plans to increase its India turnover to euro 12-15 million by 2011 from the present euro 3 million.

Ameya, on the other hand, plans to focus exclusively on pharmaceuticals, food and beverage industries in northern and western India. To meet the capital requirement for its future expansions, the local group also plans to offload a part of its equity in the company.

"The company has already initiated talks with some of the private equity players based in Mumbai. It intends to used the funds for acquiring a speciality product company in India and abroad," he added.

Ameya expects to increase its turnover to Rs 40 crore this fiscal from Rs 23 crore last year. "New business tie ups and a few other alliances, which are in the pipeline, would help the company take its turnover to Rs 100 crore by the fiscal 2009," Pillai said.